The jackpot for the Powerball draw on Mon Jul 14, 2025, is projected to be $248 Million, with an option for a cash payout of $112.4 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Mon Jul 14, 2025 |
|---|
| Draw Date | Mon Jul 14, 2025 | | Projected Jackpot | $248,000,000 | | Cash Value | $112,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $112,400,000 | | Federal Tax(24%) | $26,976,000 | | Additional Federal Tax | $14,572,330 | | State Tax(8.82%) | $9,913,680 | | Net Lumpsum Payment | $60,937,990 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,732,648 |
$1,341,410
$329,220 |
$2,062,018 |
| 2 |
$3,919,392 |
$1,410,505
$345,690 |
$2,163,197 |
| 3 |
$4,115,312 |
$1,482,996
$362,971 |
$2,269,345 |
| 4 |
$4,321,152 |
$1,559,157
$381,126 |
$2,380,869 |
| 5 |
$4,537,160 |
$1,639,080
$400,178 |
$2,497,902 |
| 6 |
$4,764,080 |
$1,723,040
$420,192 |
$2,620,848 |
| 7 |
$5,002,160 |
$1,811,130
$441,191 |
$2,749,839 |
| 8 |
$5,252,392 |
$1,903,715
$463,261 |
$2,885,416 |
| 9 |
$5,515,024 |
$2,000,889
$486,425 |
$3,027,710 |
| 10 |
$5,790,800 |
$2,102,926
$510,749 |
$3,177,125 |
| 11 |
$6,080,216 |
$2,210,010
$536,275 |
$3,333,931 |
| 12 |
$6,384,264 |
$2,322,508
$563,092 |
$3,498,664 |
| 13 |
$6,703,440 |
$2,440,603
$591,243 |
$3,671,594 |
| 14 |
$7,038,736 |
$2,564,663
$620,817 |
$3,853,256 |
| 15 |
$7,390,648 |
$2,694,870
$651,855 |
$4,043,923 |
| 16 |
$7,760,168 |
$2,831,593
$684,447 |
$4,244,128 |
| 17 |
$8,148,040 |
$2,975,105
$718,657 |
$4,454,278 |
| 18 |
$8,555,504 |
$3,125,867
$754,595 |
$4,675,042 |
| 19 |
$8,983,304 |
$3,284,153
$792,327 |
$4,906,824 |
| 20 |
$9,432,432 |
$3,450,330
$831,941 |
$5,150,161 |
| 21 |
$9,904,128 |
$3,624,858
$873,544 |
$5,405,726 |
| 22 |
$10,399,384 |
$3,808,102
$917,226 |
$5,674,056 |
| 23 |
$10,919,192 |
$4,000,431
$963,073 |
$5,955,688 |
| 24 |
$11,465,288 |
$4,202,487
$1,011,238 |
$6,251,563 |
| 25 |
$12,038,416 |
$4,414,544
$1,061,788 |
$6,562,084 |
| 26 |
$12,640,560 |
$4,637,338
$1,114,897 |
$6,888,325 |
| 27 |
$13,272,464 |
$4,871,142
$1,170,631 |
$7,230,691 |
| 28 |
$13,936,112 |
$5,116,692
$1,229,165 |
$7,590,255 |
| 29 |
$14,632,992 |
$5,374,537
$1,290,630 |
$7,967,825 |
| 30 |
$15,364,592 |
$5,645,229
$1,355,157 |
$8,364,206 |
|
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